TaxTMI 
TaxTMI 
TaxTMI 
2004 (3) TMI 672
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....re Company. M/s. Fiat Auto of India later on registered in the name and style of Fiat India Automobiles Pvt. Ltd. (hereinafter referred to as the 'FIAPL') with the equity participation/share capital as follows : 2. M/s. FIAPL will control 51% shares and the Doshi family up to 49% of the shares carrying on the business of manufacturing, selling, importing and exporting fiat motor cars and light commercial vehicles as well as components and spare parts thereof. 3. M/s. FIAPL vide their letter dated 21-11-2000, have submitted the following documents : 1. Foreign Collaboration Agreement dated 23-12-1996. 2. Supplementary Collaboration Agreement dated 15-04-199....
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....; Royalty at 5% gross both for domestic sales and for exports subject to taxes. The royalty will be calculated on the basis of the net ex-factory sale price of product, exclusive of excise duties, minus the cost of the imported components, irrespective of the source of procurement, including ocean freight, insurance, customs duty. 2. Lump sum- M/s. FIAPL will pay to Fiat Auto a lump sum of US $ 92,00,000/- subject to taxes in consideration for : (a) the technology of the Fiat 178 Models including the specific engineering to adopt the products for the Indian Market: (b) the technological project for the manufacturing operations of the New Plant....
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....r Rule 4 of the Customs Valuation Rules, 1988 by the Assessing Groups after usual check, scrutiny and verification of the declared value. 8. On going through the records of the proceedings of the said case the Commissioner of Customs, Import, New Custom House, Mumbai in exercise of power conferred by Section 129D (2) of the Customs Act, 1962 directed the Dy. Commissioner of Customs, GATT Valuation Cell, New Custom House, Mumbai vide Review Order No. RC/AC-12-52/2000, dated 3-10-2001 to apply to the Commissioner of Customs, Appeals for correct determination of certain points raised by him in the said order. 9. Accordingly, the Dy. Commissioner of Customs, GATT Valuation Cell, New Custom House, Mumbai (hereinafter referred to as t....
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....Family. Fiat Auto of India later on registered in the name and style of M/s. Fiat India Automobiles Pvt. Ltd., with the equity participation/share capital as follows : M/s. Fiat India Automobiles Pvt. Ltd. will control in the ratio of 51% : 49%. I find that M/s. Fiat Automobiles Pvt. Ltd. entered into the Foreign Collaboration Agreement dated 23-12-1996 and various other agreements with M/s. Fiat Auto SPA, Italy and Doshi Family. 12. I find that though royalty payment of 5% was provided in Supplementary Foreign Collaboration Agreement but no royalty payments were paid since M/s. FIAPL became 100% subsidiary of Fiat Auto in terms of the condition mentioned in SIA approval letter dated 1st September, 1997, hence it would not be addable....